Social Media

Coremetrics Gets Another $60M for Web Marketing Tools

A sign that web analytics and behavioral targeting is still strong: Coremetrics has raised $60 million in a fifth round of financing, according to a report on Venturebeat. This recent round was led by the 3i Group, with existing investors Accel Partners, FTVentures and Highland Capital Partners participating in the round as well.

With the emerging ways in which to track website visitor behavior and the splurging interest in advertising methods that better take advantage of the development surround this behavior as well as its ability to penetrate the larger, social media sphere, there is a great deal of activity in the arena that Coremetrics deals with, and it's not showing signs of slowing down just yet.

There's a good amount of competition coming from every direction, including increasingly specific options from Google Analytics and its own DoubleClick integration finally commencing, along with acquisitions and other developments taking place within the industry. But as Venturebeat notes, Coremetrics increased its customer base by 46% last year, signing large clients like K-Swiss, and others. Having also signed cross-network partners like IBM for expanded metrics capabilities and having reached the point of profitability, Coremetrics is also showing promise for continued growth in the web marketing industry.

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